NNPCL Admits $6 Billion Debt, Fuel Scarcity Continues

Published

1 year ago

September 2, 2024

Photo source: Google

The Nigerian National Petroleum Company Limited (NNPCL) has publicly acknowledged facing a major financial challenge, which could undermine the sustainability of fuel supplies across Nigeria.

In a statement released on Sunday, September 1, the company addressed recent media reports about its growing debt to fuel suppliers.

According to the company, the debt has now reached a staggering $6 billion, a situation that has significantly impacted fuel supply operations.

Due to this mounting debt, many fuel suppliers have scaled back on the amount of petrol they provide to NNPCL.

This reduction in supply has directly contributed to the prolonged petrol scarcity that has plagued the country for over six weeks.

The company noted that the current financial strain is creating difficulties in maintaining consistent fuel distribution and has urged stakeholders to work collaboratively to resolve the issue.

NNPCL’s admission of the debt has drawn attention to the broader concerns regarding the nation’s fuel supply chain, raising fears of further disruptions unless the financial crisis is addressed.

The ongoing scarcity has already begun to affect businesses, transportation, and the daily lives of many Nigerians.

BATNF, NYSC Collaborate to Promote Agribusiness Among Corps Members

Published

2 weeks ago

January 28, 2026

Ese Ohwofa

It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.

The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.

The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.

Business

Government Pledges Support for Women in Livestock Development Says Minister Maiha

Published

2 months ago

December 12, 2025

Ese Ohwofa

Idi Mukhtar Maiha, Minister of Livestock Development, has revealed the government’s intention of placing women in the livestock transformation agenda that they have in store for Nigeria.

During a recent event, he praised women, describing them as the backbone of the country, and shared that the country will keep on needing their support, hence the inclusion of the agenda team.

He also praised the First Lady for the impact she has made in the country so far and her advocacy for women’s empowerment.